SBIR Phase II Grants bring the cumulative grant total to approximately $17 million from the National Institutes of Health and National Cancer Institute
CORALVILLE, IA / ACCESSWIRE / October 11, 2022 / Viewpoint Molecular Targeting, Inc. ("Viewpoint" or the "Company"), a radiopharmaceutical company developing precision lead-212-based α-particle oncology therapeutics and complementary diagnostic imaging agents, today announced the award of two additional Small Business Innovation Research (SBIR) phase II grants totaling $4 million. The first award of $2 million is intended to assess image-guided dosimetry-based alpha particle therapy for neuroblastoma. The second award of $2 million was awarded for the purpose of combining receptor-targeted alpha particle therapy and immunotherapy to achieve complete responses in metastatic melanoma. These recently awarded grants bring the total amount of SBIR awards of approximately $17 million through October 2022 from the National Institutes of Health (NIH) and National Cancer Institute (NCI) to our principal collaborators at the University of Iowa, including Michael K. Schultz, PhD, our co-founder and Chief Scientific Officer, and Frances L. Johnson, MD, our co-founder and Chief Operating Officer.
"We are grateful that our science has been recognized since the Company's inception with such significant support from the NIH and NCI to support our targeted alpha therapy development activities," said Thijs Spoor, CEO of Viewpoint Molecular Targeting.
Dr. Schultz commented, "as our researchers continue to expand the potential applications of targeted alpha therapies generally, and the compelling science behind Pb-212 specifically, we continue to be excited by the transformational nature we think our emerging discoveries will have on the lives of cancer patients."
About Viewpoint Molecular Targeting
Viewpoint Molecular Targeting is a radiopharmaceutical company developing precision oncology therapeutics and complementary diagnostic imaging agents. The Company's proprietary technology utilizes the isotope lead-212 to deliver powerful alpha radiation specifically to cancer cells via specialized targeting peptides. Viewpoint is also developing complementary imaging diagnostics that incorporate the same targeting peptides which provide the opportunity to personalize treatment and optimize patient outcomes. This "theranostic" approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity associated with many other types of cancer treatments.
The Company's melanoma (VMT01) and neuroendocrine tumor (VMT-a-NET) programs are entering Phase 1/2a imaging and therapy trials for the treatment of metastatic melanoma and neuroendocrine tumors at several leading academic institutions. The Company has also developed a proprietary lead-212 generator to secure isotope supply for clinical trial and commercial operations. For more information, please visit the Company's website www.viewpointmt.com.
Viewpoint previously announced on September 29, 2022 that it has entered into a definitive agreement to merge with Isoray, Inc. (NYSE AMERICAN:ISR ("Isoray")), a medical technology company and innovator in seed brachytherapy. Additional details regarding the contemplated merger along with the merger agreement can be found in Isoray's current report on Form 8-K which was filed with the Securities and Exchange Commission on September 28, 2022. The consummation of the merger is subject to approval by the shareholders of both Isoray and Viewpoint along with other customary closing conditions.
This press release contains information that includes or is based upon "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company's expectations or forecasts regarding future events. These statements can be identified by the fact they do not relate strictly to historical or current facts. They may use words such as "believe," "potential," "estimate," "expect," "will," and other terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, forward-looking statements include statements relating to intended future actions; the Company's expectations about its addressable markets and market share; the consummation of the merger with Isoray and the realization of the anticipated benefits of the combination; the functionality and capabilities of the Company's therapies; the potential size of the commercial market for the Company's treatment programs; and the Company's expectations beliefs, intentions or strategies regarding the future. Any or all of the Company's forward-looking statements here and elsewhere may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements and from expected or historical results. Many such factors will be important in determining the Company's actual future results. Consequently, no forward-looking statement can be guaranteed. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law. These forward-looking statements (except as may be otherwise noted) speak only as of the date of this press release. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them.
Investor / Media / Public Relations: Thijs Spoor (319) 665-2150
SOURCE: Viewpoint Molecular Targeting, Inc.